Dec, 31, 2023 — CUTTING EDGE FEDERAL CREDIT UNION is a federal credit union headquartered in MILWAUKIE, OR with 2 branch locations and about $54.33 million in total assets. Opened 71 years ago in 1953, CUTTING EDGE FEDERAL CREDIT UNION has about 3,908 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CUTTING EDGE FEDERAL CREDIT UNION |
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Address: (Main Office) | 4620 SE International Way Ste 105 MILWAUKIE, OR 97222 |
Phone: | (503) 653-4392 |
Fax: | (503) 653-6327 |
Website: | https://www.cuttingedgefcu.org |
Branches: | 2 branch locations |
Members: | 3,908 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8317 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $54,331,864 |
CEO/Manager: | Brady Howe |
Chairperson: | Richard Stallman |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,985,873 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,596,949 |
Unsecured Loans | 2,396,123 |
Other Loans | 14,527,981 |
TOTAL LOANS | 23,521,053 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -135,000 |
Land And Building | 66,867 |
Other Fixed Assets | 119,752 |
NCUSIF Deposit | 510,787 |
All Other Assets | 0 |
TOTAL ASSETS | 54,331,864 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 41,398 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 904,085 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,185,051 |
Regular shares | 21,189,152 |
All Other Shares & Deposits | 17,872,023 |
TOTAL SHARES & DEPOSITS | 48,246,226 |
TOTAL LIABILITIES | 49,191,709 |
Regular Reserve | 0 |
Other Reserves | -1,354,480 |
Undivided Earnings | 6,494,635 |
TOTAL EQUITY | 5,140,155 |
TOTAL LIABILITIES, SHARES, & EQUITY | 54,331,864 |
INCOME & EXPENSE | |
Loan Income | 1,205,467 |
Investment Income | 407,152 |
Other Income | 160,736 |
Total Employee Compensation & Benefits | 1,231,326 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,204,175 |
Non-operating Income & (Expense) | 537,877 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,531 |
Cost of Funds | 412,146 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -126,470 |
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